Unreasonable Dealer Markups

[MidwayJ]

The guy next to me with a bigger pocket is the better audience. If I can’t buy the adm then I look at a cheaper car. That guy with loaded wallet really should be priority.

it sucks, but if they weren’t selling, adm’s wouldn’t be a thing. I’m not excusing them. But … if I was a dealership, I’d do the same. Market the car for what people are paying: willing to pay.

I agree regarding the high demand, highly hyped cars, but not when ADMs are charged across the board on run of the mill vehicles. It reminds me of gouging hurricane victims for supplies. Obviously not as bad as that, but similar in principle because they're taking advantage of the consequences of the pandemic.

Sponsored

 

[FreePenguin]

I agree regarding the high demand, highly hyped cars, but not when ADMs are charged across the board on run of the mill vehicles. It reminds me of gouging hurricane victims for supplies. Obviously not as bad as that, but similar in principle because they're taking advantage of the consequences of the pandemic.

the used car market and motorcycle market though............. my friend sold my 2013 gsxr 750 that I sold him 4 years ago for 6k for 11k last summer. I paid 10k OTD in 2014 as a leftover!

I just dont understand why people are paying these prices, I get it a motorcycle isnt a car, but did people have THAT MUCH MONEY? to pay new prices for a bike 7-8 years old. that falls on some dumb people.

 

[dx2]

I just assumed they got around it because their products are more closely related to toasters than automobiles

And accidentally someone of whose car knowledge I am quite impressed of, does come to the same conclusion



This guy is just great in the way he's presenting all the (mostly vintage) models.

 

[ZeroTX]

I ordered my GT Premium in March 2021 right about the time the chip issue became an issue, I paid 4% under MSRP. Ordered in March, took delivery in August.

It took 5 months??

 

[Turbo2022]

Will a bank even loan someone that much over the cars value? I would think you would have to pay that markup in cash if you were looking to finance the whole car.

Agree, no financial advisor should approve such loan. Once the market become stable, the value of the asset (the car) will be lower than the liability (the loan).

 

[kiksbutt]

Mercedes and VW dealers (at least when I was shopping last month) were not asking ADMs. Kia was asking 15k over msrp, Jeep, etc. they were all asking over msrp, lowest was 5k

 

[DopamineQuest]

I just assumed they got around it because their products are more closely related to toasters than automobiles

Toasters that will rip your face off and make our cars look like 1990 Toyota Corollas in a straight line lol (I'm not an EV guy, just saying).

 

[shogun32]

Our credit union is advertising up to 120% of msrp on new and 120% of Kelly Blue Book on used.

this is going to bite them HARD just like 2008. Banks will never learn...

 

[Thomas]

Agree, no financial advisor should approve such loan. Once the market become stable, the value of the asset (the car) will be lower than the liability (the loan).

….if you ask your financial advisor if you should be taking a loan out at 120% of MSRP on a 100k car….you DEFINITELY need a financial advisor.

 

[Atlas1]

Toasters that will rip your face off and make our cars look like 1990 Toyota Corollas in a straight line lol (I'm not an EV guy, just saying).

I know

this is going to bite them HARD just like 2008. Banks will never learn...

What’s there to learn? That’s what we’re here for…..to bail them out

 

[UpACurb]

wait, are you saying they are approving 120% of msrp for loans?! omg.

Yes and 180 month terms : )

 

[charlied]

Superior Ford in Plymouth, MN was asking 46k for a Maverick. Fords website said 36k, but when I went to the dealer page they had it marked up 10k. It's bad enough most dealers screw people on trade value by that amount, but in a new vehicle there is no excuse.

 

[Longitude Zero]

At every Ford Dealer near me that had placed at least a 2K Market Price Adjustment on every car and truck on the lot. Screw them and everybody that is trying to pinch every customer. F-150's are 3K-5K. Mustangs are at least 5K. The price is NOT negotiable. Pay the ripoff rate or hit the road.

 

[oneheadlite]

One can always ask for high price. What it transacts for is another thing all together.

^^^ This ^^^
Whatever customers will pay, that is what it sells for.
Most just see; "A NEW CAR!"""""

I worked with a guy years ago, and his philosophy was; "if I
can pay the payment, I'm buying it......................"

 

[FreePenguin]

^^^ This ^^^
Whatever customers will pay, that is what it sells for.
Most just see; "A NEW CAR!"""""

I worked with a guy years ago, and his philosophy was; "if I
can pay the payment, I'm buying it......................"

Everyone I know.

Sponsored